17.01.2024
Bitcoin analysis
BTCUSD
Bitcoin fell 2.5 percent as the flow continued to point to a disappointing ETF launch.
Don't ever listen to people who provoke you by playing with random numbers.
The spot ETF may not work for some who expect it to be like a white winged horse, or a point of hope for a jump or, conversely, a sharp fall.
We are in the fourth day of Bitcoin ETF trading and the results are nowhere near the $2+ billion that Bitcoin buyers were touting in the first 48 hours.
The path to net $15+ billion by the end of the year, or the $100 billion touted by Standard Chartered, has also dimmed significantly.
There are people who want to argue that these ETFs are a big win because they're better than the hundreds of ETFs launched every year, but that's no measure of the success of $49,000 in ETF advertising either.
What is strange to me is that no one in the Bitcoin space sees Bitcoin itself as it is, there is such an echo chamber built around the space that there is no room for logical analysis.
The thing is, people here are hurt by those who are somehow promoting a huge hit from $600 million in an $800 billion market.
In my opinion, the best and most logical way is to trade Bitcoin based on charts and chart trends.
Bitcoin analysis
BTCUSD
Bitcoin fell 2.5 percent as the flow continued to point to a disappointing ETF launch.
Don't ever listen to people who provoke you by playing with random numbers.
The spot ETF may not work for some who expect it to be like a white winged horse, or a point of hope for a jump or, conversely, a sharp fall.
We are in the fourth day of Bitcoin ETF trading and the results are nowhere near the $2+ billion that Bitcoin buyers were touting in the first 48 hours.
The path to net $15+ billion by the end of the year, or the $100 billion touted by Standard Chartered, has also dimmed significantly.
There are people who want to argue that these ETFs are a big win because they're better than the hundreds of ETFs launched every year, but that's no measure of the success of $49,000 in ETF advertising either.
What is strange to me is that no one in the Bitcoin space sees Bitcoin itself as it is, there is such an echo chamber built around the space that there is no room for logical analysis.
The thing is, people here are hurt by those who are somehow promoting a huge hit from $600 million in an $800 billion market.
In my opinion, the best and most logical way is to trade Bitcoin based on charts and chart trends.